Request to Forgive Debt / Compassionate Write-off
Sample Letter to Your Creditors | Template
This is a template letter to your creditors requesting that they forgive your debt and write it off for compassionate reasons. Before using it, make sure you know how to communicate effectively with your creditors.
How We Can Help
If you’re struggling to pay your creditors right now, using the sample letter above can be a good idea, but you may actually have more options. Find them by speaking with one of our credit counsellors. You can talk to us in person or over the phone, and we’ll help you in the following ways:
Stop Collection Calls
If you’re being harassed by your creditors, this can be stopped very quickly and easily — for free. Our experienced credit counsellors will help you:
- Stop the harassing phone calls
- Develop an overall strategy to manage a short-term financial crisis
- Outline what you need to do to get the cooperation of your creditors
- Identify and resolve unreasonable collection practices
We can do all of this and a lot more for anyone with debts in Canada.
Consolidate & Reduce Monthly Payments
One of our experienced credit counsellors can help you review your financial situation and see if there are any consolidation or debt relief options that will fit your goals and budget to get you back on track as quickly as possible. Options may include our Debt Management Program, which combines unsecured debt payments into one affordable monthly payment that fits your budget. Speak with one of our counsellors to see what options you have. They can also help you put together a realistic budget and plan to get you out of debt.
Get Control of Your Finances
The help we provide often results in the following:
- Reducing or eliminating interest charges from credit cards
- Repaying your debts with one affordable monthly payment
- Avoiding bankruptcy
- Stopping collection calls
- Getting back on track to achieve your financial goals
No matter how bad your situation is, there’s always hope. If we’re not able to fully help you right now, then one of our counsellors can help you make the most out of your current situation and see what your next steps can be when things start to improve. The key is to educate yourself on all your options so that you can make informed decisions and get back on track as soon as possible.
No Payments Letter
Sometimes it’s not possible to make payments. Here’s how to tell your creditors so they listen.
Lower Payment Letter
Here are instructions and a sample letter to ask your creditors to accept reduced payments.
Are you curious about what credit counselling is or how it works? Here’s what you need to know.